Live Nation Entertainment (LYV) 10-Q 27 Jul 23 2023 Q2 Quarterly report Financial data

DOCUMENT

DOCUMENT - shares	6 Months Ended
	Jun. 30, 2023	Jul. 21, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-32601
Entity Registrant Name	LIVE NATION ENTERTAINMENT, INC.
Entity Central Index Key	0001335258
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-3247759
Entity Address, Address Line One	9348 Civic Center Drive
Entity Address, City or Town	Beverly Hills
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90210
City Area Code	310
Local Phone Number	867-7000
Title of 12(b) Security	Common stock, $.01 Par Value Per Share
Trading Symbol	LYV
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		230,151,239

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 7,128,873	$ 5,606,457
Accounts receivable, less allowance of $66,669 and $63,294, respectively	1,889,652	1,465,383
Prepaid expenses	1,628,578	949,826
Restricted cash	7,769	5,917
Other current assets	122,076	131,939
Total current assets	10,776,948	8,159,522
Property, plant and equipment, net	1,904,020	1,487,663
Operating lease assets	1,582,873	1,571,395
Intangible assets
Definite-lived intangible assets, net	1,118,166	1,050,622
Indefinite-lived intangible assets, net	378,181	368,712
Goodwill	2,619,356	2,529,380
Long-term advances	654,938	568,558
Other long-term assets	890,608	724,989
Total assets	19,925,090	16,460,841
Current liabilities
Accounts payable, client accounts	1,670,651	1,791,025
Accounts payable	293,865	180,076
Accrued expenses	2,778,581	2,368,434
Deferred revenue	5,025,871	3,134,800
Current portion of long-term debt, net	51,489	620,032
Current portion of operating lease liabilities	146,931	140,232
Other current liabilities	56,143	68,716
Total current liabilities	10,023,531	8,303,315
Long-term debt, net	6,554,697	5,283,467
Long-term operating lease liabilities	1,659,898	1,654,525
Other long-term liabilities	562,016	455,971
Commitments and contingent liabilities
Redeemable noncontrolling interests	753,519	669,766
Stockholders' equity
Common stock	2,291	2,285
Additional paid-in capital	2,438,660	2,698,316
Accumulated deficit	(2,680,716)	(2,971,229)
Cost of shares held in treasury	(6,865)	(6,865)
Accumulated other comprehensive income (loss)	59,253	(90,076)
Total Live Nation stockholders' equity	(187,377)	(367,569)
Noncontrolling interests	558,806	461,366
Total equity	371,429	93,797
Total liabilities and equity	$ 19,925,090	$ 16,460,841

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Allowance for doubtful accounts	$ 66,669	$ 63,294

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue	$ 5,630,723	$ 4,434,174	$ 8,758,113	$ 6,236,982
Operating expenses:
Direct operating expenses	4,164,778	3,267,023	6,280,367	4,338,045
Selling, general and administrative expenses	868,595	672,213	1,558,916	1,242,395
Depreciation and amortization	136,514	115,927	251,699	216,396
Gain (Loss) on Disposition of Other Assets	7,013	(1,065)	6,509	(2,730)
Corporate expenses	81,478	59,247	144,493	91,657
Operating income	386,371	318,699	529,147	345,759
Interest expense	81,995	68,435	171,210	135,208
Loss on extinguishment of debt	0	0	18,366	0
Interest income	(56,452)	(13,192)	(96,765)	(20,756)
Equity in earnings of nonconsolidated affiliates	(5,558)	(1,955)	(9,665)	(6,243)
Other expense (income), net	(6,599)	5,039	4,984	14,438
Income before income taxes	372,985	260,372	441,017	223,112
Income tax expense	41,648	31,995	65,488	43,691
Net income	331,337	228,377	375,529	179,421
Net income attributable to noncontrolling interests	37,655	40,577	85,016	41,803
Net income attributable to common stockholders of Live Nation	$ 293,682	$ 187,800	$ 290,513	$ 137,618
Basic net loss per common share available to common stockholders of Live Nation	$ 1.04	$ 0.69	$ 0.78	$ 0.31
Diluted net loss per common share available to common stockholders of Live Nation	$ 1.02	$ 0.66	$ 0.78	$ 0.30
Weighted average common shares outstanding:
Weighted Average Number of Shares Outstanding, Basic	228,536,179	224,674,447	228,350,537	223,290,226
Weighted Average Number of Shares Outstanding, Diluted	243,660,186	243,634,764	230,490,937	231,367,674
Reconciliation to net income (loss) available to common stockholders of Live Nation:
Net income attributable to common stockholders of Live Nation	$ 293,682	$ 187,800	$ 290,513	$ 137,618
Accretion of redeemable noncontrolling interests	(56,621)	(32,560)	(111,554)	(68,274)
Net income available to common stockholders of Live Nation—basic	237,061	155,240	178,959	69,344
Interest on Convertible Debt, Net of Tax	10,804	6,365	0	0
Net income available to common stockholders of Live Nation—diluted	$ 247,865	$ 161,605	$ 178,959	$ 69,344

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 331,337	$ 228,377	$ 375,529	$ 179,421
Other comprehensive income, net of tax:
Unrealized gain (loss) on cash flow hedge	11,658	7,687	7,709	31,656
Realized loss (gain) on cash flow hedge	(4,256)	1,247	(7,804)	3,149
Foreign currency translation adjustments	69,276	(54,164)	149,424	(16,412)
Comprehensive income	408,015	183,147	524,858	197,814
Comprehensive income attributable to noncontrolling interests	37,655	40,577	85,016	41,803
Comprehensive income attributable to common stockholders of Live Nation	$ 370,360	$ 142,570	$ 439,842	$ 156,011

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] Cumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit [Member]	Accumulated Deficit [Member] Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock, Common	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]	Redeemable Noncontrolling Interests [Member]
Equity [Roll Forward]
Cumulative effect of change in accounting principle		$ (35,464)			$ (95,986)		$ 60,522
Balances (in shares) at Dec. 31, 2021			221,964,734
Balances at Dec. 31, 2021	$ (188,454)		$ 2,220	$ 2,897,695		$ (3,327,737)		$ (6,865)	$ (147,964)	$ 394,197
Equity [Roll Forward]
Non-cash and stock-based compensation	174,811			174,811
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)			1,097,262
Common stock issued under stock plans, net of shares withheld for employee taxes	(41,731)		$ 11	(41,742)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)			2,519,283
Exercise of stock options	26,051		$ 25	26,026
Capped call transactions for 3.125% convertible senior notes due 2029	0
Acquisitions	5,181									5,181
Purchases of noncontrolling interests	(43,759)			(36,087)						(7,672)
Sales of noncontrolling interests	(336)			0						(336)
Redeemable noncontrolling interests fair value adjustments	(68,734)			(68,734)
Contributions received	15,402									15,402
Cash distributions	(49,970)									(49,970)
Other	45,862			(2,370)						48,232
Comprehensive income (loss):
Net income (loss)	177,746					137,618				40,128
Unrealized gain (loss) on cash flow hedge	31,656
Realized loss (gain) on cash flow hedge	3,149
Foreign currency translation adjustments	(16,412)
Balances at Jun. 30, 2022	34,998		$ 2,256	2,853,613		(3,129,597)		(6,865)	(129,571)	445,162
Balances (in shares) at Jun. 30, 2022			225,581,279
Balances at Dec. 31, 2021											$ 551,921
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions											8,677
Purchases of noncontrolling interests											(1,457)
Redeemable noncontrolling interests fair value adjustments											68,274
Contribution received											25
Cash distributions											(16,144)
Other											(47,947)
Comprehensive income (loss):
Net income (loss)											1,675
Balances at Jun. 30, 2022											565,024
Balances (in shares) at Mar. 31, 2022			223,531,301
Balances at Mar. 31, 2022	(145,617)		$ 2,235	2,888,551		(3,317,397)		(6,865)	(84,341)	372,200
Equity [Roll Forward]
Non-cash and stock-based compensation	13,221			13,221
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)			544,593
Common stock issued under stock plans, net of shares withheld for employee taxes	(5,163)		$ 6	(5,169)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)			1,505,385
Exercise of stock options	13,302		$ 15	13,287
Acquisitions	4,782									4,782
Purchases of noncontrolling interests	(25,620)			(20,846)						(4,774)
Redeemable noncontrolling interests fair value adjustments	(33,020)			(33,020)
Contributions received	9,190									9,190
Cash distributions	(18,162)									(18,162)
Other	44,038			(2,411)						46,449
Comprehensive income (loss):
Net income (loss)	223,277					187,800				35,477
Unrealized gain (loss) on cash flow hedge	7,687
Realized loss (gain) on cash flow hedge	1,247
Foreign currency translation adjustments	(54,164)
Balances at Jun. 30, 2022	34,998		$ 2,256	2,853,613		(3,129,597)		(6,865)	(129,571)	445,162
Balances (in shares) at Jun. 30, 2022			225,581,279
Balances at Mar. 31, 2022											581,652
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions											3,023
Purchases of noncontrolling interests											(1,457)
Redeemable noncontrolling interests fair value adjustments											32,560
Contribution received											0
Cash distributions											(8,986)
Other											(46,868)
Comprehensive income (loss):
Net income (loss)											5,100
Balances at Jun. 30, 2022											565,024
Balances (in shares) at Dec. 31, 2022			228,498,102
Balances at Dec. 31, 2022	93,797		$ 2,285	2,698,316		(2,971,229)		(6,865)	(90,076)	461,366
Equity [Roll Forward]
Non-cash and stock-based compensation	55,334			55,334
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)			217,501
Common stock issued under stock plans, net of shares withheld for employee taxes	(8,464)		$ 2	(8,466)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)			211,841
Exercise of stock options	4,999		$ 2	4,997
Conversion of convertible debt (in shares)			156,750
Conversion of convertible debt	2
Repurchase of 2.5% convertible senior notes due 2023	(27,325)			(27,327)
Capped call transactions for 3.125% convertible senior notes due 2029	75,500			75,500
Acquisitions	67,243									67,243
Purchases of noncontrolling interests	(124,738)			(97,648)						(27,090)
Redeemable noncontrolling interests fair value adjustments	(111,046)			(111,046)
Contributions received	14,631									14,631
Cash distributions	(74,693)									(74,693)
Other	54,320			0						54,320
Comprehensive income (loss):
Net income (loss)	353,542					290,513				63,029
Unrealized gain (loss) on cash flow hedge	7,709								7,709
Realized loss (gain) on cash flow hedge	(7,804)								(7,804)
Foreign currency translation adjustments	149,424								149,424	0	0
Balances at Jun. 30, 2023	371,429		$ 2,291	2,438,660		(2,680,716)		(6,865)	59,253	558,806
Balances (in shares) at Jun. 30, 2023			229,084,194
Balances at Dec. 31, 2022	669,766										669,766
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions											26,296
Purchases of noncontrolling interests											659
Redeemable noncontrolling interests fair value adjustments											111,046
Contribution received											85
Cash distributions											(62,916)
Other											(13,404)
Comprehensive income (loss):
Net income (loss)											21,987
Balances at Jun. 30, 2023	753,519										753,519
Balances (in shares) at Mar. 31, 2023			228,859,789
Balances at Mar. 31, 2023	79,146		$ 2,289	2,535,553		(2,974,398)		(6,865)	(17,425)	539,992
Equity [Roll Forward]
Non-cash and stock-based compensation	27,763			27,763
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)			32,526
Common stock issued under stock plans, net of shares withheld for employee taxes	(515)		$ 1	(516)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)			191,879
Exercise of stock options	4,005		$ 1	4,004
Acquisitions	8,777									8,777
Purchases of noncontrolling interests	(87,460)			(71,776)						(15,684)
Redeemable noncontrolling interests fair value adjustments	(56,368)			(56,368)
Contributions received	8,772									8,772
Cash distributions	(30,484)									(30,484)
Other	26,295			0						26,295
Comprehensive income (loss):
Net income (loss)	314,820					293,682				21,138
Unrealized gain (loss) on cash flow hedge	11,658								11,658
Realized loss (gain) on cash flow hedge	(4,256)								(4,256)
Foreign currency translation adjustments	69,276								69,276		0
Balances at Jun. 30, 2023	371,429		$ 2,291	$ 2,438,660		$ (2,680,716)		$ (6,865)	$ 59,253	$ 558,806
Balances (in shares) at Jun. 30, 2023			229,084,194
Balances at Mar. 31, 2023											710,350
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions											13,988
Purchases of noncontrolling interests											659
Redeemable noncontrolling interests fair value adjustments											56,368
Contribution received											0
Cash distributions											(52,210)
Other											7,847
Comprehensive income (loss):
Net income (loss)											16,517
Balances at Jun. 30, 2023	$ 753,519										$ 753,519

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 375,529	$ 179,421
Reconciling items:
Depreciation	127,670	114,119
Amortization	124,029	102,277
Amortization of non-recoupable ticketing contract advances	41,597	40,392
Amortization of debt issuance costs and discounts	8,949	8,224
Loss on extinguishment of debt	18,366	0
Stock-based compensation expense	55,333	61,741
Unrealized changes in fair value of contingent consideration	20,100	18,010
Equity in losses of nonconsolidated affiliates, net of distributions	9,019	10,112
Provision for uncollectible accounts receivable	20,120	25,702
Loss (gain) on mark-to-market of equity investments	(26,408)	5,657
Other, net	4,918	3,928
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Increase in accounts receivable	(395,516)	(440,290)
Increase in prepaid expenses and other assets	(836,672)	(607,939)
Increase in accounts payable, accrued expenses and other liabilities	298,718	972,906
Increase in deferred revenue	1,801,097	1,053,178
Net cash provided by operating activities	1,646,849	1,547,438
CASH FLOWS FROM INVESTING ACTIVITIES
Advances of notes receivable	(118,973)	(30,558)
Collections of notes receivable	8,286	11,074
Investments made in nonconsolidated affiliates	(26,336)	(46,699)
Purchases of property, plant and equipment	(202,531)	(130,278)
Cash acquired from (paid for) acquisitions, net of cash paid (acquired)	69,359	(39,854)
Purchases of intangible assets	(35,088)	(6,129)
Other, net	6,077	(2,292)
Net cash used in investing activities	(299,206)	(244,736)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debt, net of debt issuance costs	986,766	4,009
Payments on long-term debt	(614,030)	(22,638)
Contributions from noncontrolling interests	14,716	13,448
Distributions to noncontrolling interests	(137,609)	(66,114)
Purchases and sales of noncontrolling interests, net	(88,239)	(27,138)
Payments for capped call transactions	(75,500)	0
Proceeds from exercise of stock options	4,999	26,051
Taxes paid for net share settlement of equity awards	(8,464)	(41,731)
Payments for deferred and contingent consideration	(9,440)	(22,508)
Other, net	315	(1,014)
Net cash provided by (used in) financing activities	73,514	(137,635)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	103,111	(186,703)
Net increase in cash, cash equivalents, and restricted cash	1,524,268	978,364
Cash, cash equivalents, and restricted cash at beginning of period	5,612,374	4,887,792
Cash, cash equivalents, and restricted cash at end of period	$ 7,136,642	$ 5,866,156

BASIS OF PRESENTATION AND OTHER

BASIS OF PRESENTATION AND OTHER INFORMATION	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND OTHER INFORMATION	Preparation of Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X issued by the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, they include all normal and recurring accruals and adjustments necessary to present fairly the results of the interim periods shown. The financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2022 Annual Report on Form 10-K filed with the SEC on February 23, 2023. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes including, but not limited to, legal, tax and insurance accruals, acquisition accounting and impairments. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates. Seasonality Our Concerts and Sponsorship & Advertising segments typically experience higher revenue and operating income in the second and third quarters as our outdoor venue concerts and festivals primarily occur from May through October in most major markets. Our Ticketing segment revenue is impacted by fluctuations in the availability and timing of events for sale to the public, which vary depending upon scheduling by our clients. Cash flows from our Concerts segment typically have a slightly different seasonality as partial payments are often made for artist performance fees and production costs for tours in advance of the date the related event tickets go on sale. These artist fees and production costs are expensed when the event occurs. Once tickets for an event go on sale, we generally begin to receive payments from ticket sales in advance of when the event occurs. In the United States, this cash is largely associated with events in our operated venues, notably amphitheaters, festivals, theaters and clubs. Internationally, this cash is from a combination of both events in our operated venues, as well as events in third-party venues associated with our promoter’s share of tickets in allocation markets. We record these ticket sales as revenue when the event occurs. Our seasonality also results in higher balances in cash and cash equivalents, accounts receivable, prepaid expenses, accrued expenses and deferred revenue at different times in the year. We expect our seasonality trends to evolve as we continue to expand our global operations. Variable Interest Entities In the normal course of business, we enter into joint ventures or make investments in companies that will allow us to expand our core business and enter new markets. In certain instances, such ventures or investments may be considered a VIE because the equity owners or the equity holders, as a group, lack the characteristics of a controlling financial interest. In determining whether we are the primary beneficiary of a VIE, we assess whether we have the power to direct activities that most significantly impact the economic performance of the entity and have the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. The activities we believe most significantly impact the economic performance of our VIEs include the unilateral ability to approve the annual budget, to terminate key management and to approve entering into agreements with artists, among others. We have certain rights and obligations related to our involvement in the VIEs, including the requirement to provide operational cash flow funding. As of June 30, 2023 and December 31, 2022, excluding intercompany balances and allocated goodwill and intangible assets, there were approximately $882 million and $514 million of assets and $625 million and $427 million of liabilities, respectively, related to VIEs included in our balance sheets. None of our VIEs are significant on an individual basis. Cash and Cash Equivalents Included in the June 30, 2023 and December 31, 2022 cash and cash equivalents balance is $1.4 billion and $1.5 billion, respectively, of cash received that includes the face value of tickets sold on behalf of our ticketing clients and their share of service charges (“client cash”), which amounts are to be remitted to these clients. We generally do not utilize client cash for our own financing or investing activities as the amounts are payable to our clients on a regular basis. These amounts due to our clients are included in accounts payable, client accounts. Income Taxes Each reporting period, we evaluate the realizability of our deferred tax assets in each tax jurisdiction. As of June 30, 2023, we continued to maintain a full valuation allowance against our net deferred tax assets in certain jurisdictions due to cumulative pre-tax losses. As a result of the valuation allowances, no tax benefits have been recognized for losses incurred, if any, in those tax jurisdictions for the first six months of 2023. In August 2022, the Inflation Reduction Act (IRA) was enacted in the United States, which includes health care, clean energy, and income tax provisions. The income tax provisions amend the Internal Revenue Code to include among other things a corporate alternative minimum tax starting in the 2023 tax year. The Company is still assessing the impact due to a lack of United States Treasury regulations on this matter; however, the IRA is not expected to have a material impact on the Company's financial statements due to net operating losses and full valuation allowances for the United States, which is our most significant jurisdiction. We will continue to monitor to ensure our financial results and related tax disclosures are in compliance with the IRA tax legislation. Accounting Pronouncements - Adopted In October 2021, the FASB issued Accounting Standards Update (ASU) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers. This ASU should be applied prospectively to acquisitions occurring on or after the effective date of December 15, 2022, and early adoption is permitted. We adopted this guidance on January 1, 2023. The adoption is not expected to have a material impact on our consolidated financial statements.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
LEASES	The significant components of operating lease expense are as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Operating lease expense $ 76,999 $ 71,750 $ 142,328 $ 135,511 Variable and short-term lease expense 40,963 34,861 72,305 52,893 Sublease income (2,424) (1,304) (4,612) (2,274) Net lease expense $ 115,538 $ 105,307 $ 210,021 $ 186,130 Many of our leases contain contingent rent obligations based on revenue, tickets sold or other variables, while others include periodic adjustments to rent obligations based on the prevailing inflationary index or market rental rates. Contingent rent obligations are not included in the initial measurement of the lease asset or liability and are recorded as rent expense in the period that the contingency is resolved. Supplemental cash flow information for our operating leases is as follows: Six Months Ended 2023 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 137,924 $ 121,953 Lease assets obtained in exchange for lease obligations, net of terminations $ 87,505 $ 185,119 As of June 30, 2023, we have additional operating leases that have not yet commenced, with total lease payments of $146.7 million. These operating leases, which are not included on our consolidated balance sheets, have commencement dates ranging from July 2023 to June 2030 due to certain offices and venues under construction with lease terms ranging from 2 to 30 years.

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	Long-term debt, which includes finance leases, consisted of the following: June 30, 2023 December 31, 2022 (in thousands) Senior Secured Credit Facility: Term loan A $ 372,500 $ 382,500 Term loan B 841,274 845,644 6.5% Senior Secured Notes due 2027 1,200,000 1,200,000 3.75% Senior Secured Notes due 2028 500,000 500,000 4.875% Senior Notes due 2024 575,000 575,000 5.625% Senior Notes due 2026 300,000 300,000 4.75% Senior Notes due 2027 950,000 950,000 2.5% Convertible Senior Notes due 2023 — 550,000 2.0% Convertible Senior Notes due 2025 400,000 400,000 3.125% Convertible Senior Notes due 2029 1,000,000 — Other long-term debt 526,692 252,199 Total principal amount 6,665,466 5,955,343 Less: unamortized discounts and debt issuance costs (59,280) (51,844) Total long-term debt, net of unamortized discounts and debt issuance costs 6,606,186 5,903,499 Less: current portion 51,489 620,032 Total long-term debt, net $ 6,554,697 $ 5,283,467 Future maturities of long-term debt at June 30, 2023 are as follows: (in thousands) Remainder of 2023 $ 33,021 2024 1,478,730 2025 50,443 2026 1,394,009 2027 2,153,142 Thereafter 1,556,121 Total $ 6,665,466 All long-term debt without a stated maturity date is considered current and is reflected as maturing in the earliest period shown in the table above. See Note 5 – Fair Value Measurements for discussion of the fair value measurement of our long-term debt. 3.125% Convertible Senior Notes due 2029 In January 2023, we issued $1.0 billion principal amount of 3.125% convertible senior notes due 2029 (the “2029 Notes”). Interest on the 2029 Notes is payable semi-annually in arrears on January 15 and July 15, beginning July 15, 2023, at a rate of 3.125% per annum. The notes will mature on January 15, 2029. The notes will be convertible, under certain circumstances, until October 15, 2028, and on or after such date without condition, at an initial conversion rate of 9.2259 shares of our common stock per $1,000 principal amount of notes, subject to adjustment, which represents a 50% conversion premium based on the last reported sale price for our common stock of $72.26 on January 9, 2023 prior to issuing the debt. Upon conversion, the notes may be settled in, at our election, shares of common stock or cash or a combination of cash and shares of common stock. Assuming we fully settle the notes in shares, the maximum number of shares that could be issued to satisfy the conversion is 13.8 million as of June 30, 2023. We may redeem for cash all or any portion of the notes, at our option, on or after January 21, 2026 and before the 41st scheduled trading day before the maturity date, if the sales price of our common stock reaches specified targets as defined in the indenture. The redemption price will equal 100% of the principal amount of the notes plus accrued interest, if any. If we experience a fundamental change, as defined in the indenture governing the notes, the holders of the 2029 Notes may require us to purchase for cash all or a portion of their notes, subject to specified exceptions, at a price equal to 100% of the principal amount of the notes plus accrued and unpaid interest, if any. As of June 30, 2023, the remaining period for the unamortized debt issuance costs balance of $14.3 million was approximately six In connection with the issuance of the 2029 Notes, we entered into privately negotiated capped call transactions with several counterparties. The cap price of the capped call transactions is initially $144.52, which represents a premium of 100% over the last reported sale price of the Company’s common stock on January 9, 2023. The cost of the capped call transactions was a $75.5 million impact to additional paid-in capital. Debt Extinguishment In conjunction with the issuance of the 2029 Notes, we used approximately $485.8 million of the net proceeds to repurchase $440.0 million aggregate principal amount of the 2.5% convertible senior notes due 2023 resulting in a loss on debt repurchase of $18.4 million and a charge to additional paid-in capital for the induced conversion of $27.3 million. On March 15, 2023, we redeemed the remaining $110.0 million aggregate principal amount of the 2.5% convertible senior notes and issued 156,750 common shares of stock. Senior Secured Facility Amendment In February 2023, we amended our senior secured credit facility. The amendments provide for, among other things: (i) replacement of the benchmark reference rate of the Eurodollar Rate (as defined in the Credit Agreement) with the Term SOFR Rate for borrowings denominated in United States Dollars and for each Alternative Currency (as defined in the Credit Agreement), a corresponding reference rate, as set forth in the Amended Credit Agreement, (ii) deletion of the provisions regarding Canadian bankers’ acceptances, and (iii) the addition of the Company’s ability to draw letters of credit in Canadian Dollars. Other Long-term Debt As of June 30, 2023, other long-term debt includes $270.7 million for debt due in 2026 acquired as part of an acquisition of a venue management business during the first quarter of 2023 in the United States.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	Recurring The following table shows the fair value of our significant financial assets that are required to be measured at fair value on a recurring basis, which are classified on the consolidated balance sheets as cash and cash equivalents. Estimated Fair Value June 30, 2023 December 31, 2022 Level 1 Level 2 Total Level 1 Level 2 Total (in thousands) Assets: Cash equivalents $ 868,704 $ — $ 868,704 $ 503,964 $ — $ 503,964 Interest rate swaps $ — $ 55,616 $ 55,616 $ — $ 41,515 $ 41,515 Cash equivalents consist of money market funds. Fair values for cash equivalents are based on quoted prices in an active market. The fair value for our interest rate swaps are based upon inputs corroborated by observable market data with similar tenors. Our outstanding debt held by third-party financial institutions is carried at cost, adjusted for any discounts or debt issuance costs. Our debt is not publicly traded and the carrying amounts typically approximate fair value for debt that accrues interest at a variable rate, which are considered to be Level 2 inputs as defined in the FASB guidance. The following table presents the estimated fair values of our senior secured notes, senior notes and convertible senior notes: Estimated Fair Value at June 30, 2023 December 31, 2022 Level 2 (in thousands) 6.5% Senior Secured Notes due 2027 $ 1,207,980 $ 1,175,460 3.75% Senior Secured Notes due 2028 $ 447,155 $ 429,035 4.875% Senior Notes due 2024 $ 568,198 $ 560,027 5.625% Senior Notes due 2026 $ 293,646 $ 285,315 4.75% Senior Notes due 2027 $ 887,082 $ 847,562 2.5% Convertible Senior Notes due 2023 $ — $ 588,473 2.0% Convertible Senior Notes due 2025 $ 425,792 $ 397,536 3.125% Convertible Senior Notes due 2029 $ 1,106,960 $ — The estimated fair value of our third-party fixed-rate debt is based on quoted market prices in active markets for the same or similar debt, which are considered to be Level 2 inputs.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Litigation Consumer Class Actions The following putative class action lawsuits were filed against Live Nation and/or Ticketmaster in Canada: Thompson-Marcial and Smith v. Ticketmaster Canada Holdings ULC (Ontario Superior Court of Justice, filed September 2018); McPhee v. Live Nation Entertainment, Inc., et al. (Superior Court of Quebec, District of Montreal, filed September 2018); Crystal Watch v. Live Nation Entertainment, Inc., et al. (Court of Queen’s Bench for Saskatchewan, by amendments filed September 2018); and Gomel v. Live Nation Entertainment, Inc., et al. (Supreme Court of British Columbia, Vancouver Registry, filed October 2018). Similar putative class actions were filed in the United States during the same time period, but as of November 2020, each of the lawsuits filed in the United States has been dismissed with prejudice. The Canadian lawsuits make similar factual allegations that Live Nation and/or Ticketmaster engage in conduct that is intended to encourage the resale of tickets on secondary ticket exchanges at elevated prices. Based on these allegations, each plaintiff asserts violations of different provincial and federal laws. Each plaintiff also seeks to represent a class of individuals who purchased tickets on a secondary ticket exchange, as defined in each plaintiff’s complaint. The Watch complaint also makes claims related to Ticketmaster’s fee display practices on the primary market. The complaints seek a variety of remedies, including unspecified compensatory damages, punitive damages, restitution, injunctive relief and attorneys’ fees and costs. In April 2021, the court in the Gomel lawsuit declined to certify all claims other than those pled under British Columbia’s Business Practices and Consumer Protection Act and claims for punitive damages. The court did certify a class of British Columbia residents who purchased tickets to an event in Canada on any secondary market exchange from June 2015 through April 2021 that were initially purchased on Ticketmaster.ca. In May 2021, Ticketmaster and Live Nation filed a notice of appeal of the class certification ruling, and the plaintiff filed a cross-appeal shortly thereafter. The appeals were heard in early February 2023. In July 2023, the Court of Appeal for British Columbia issued its ruling, finding that the trial court erred by certifying common issues related to damages in the absence of any evidence supporting a plausible methodology to determine damages on a class-wide basis and remitted the matter back to the motion judge to reconsider his ruling. The Court of Appeal also allowed plaintiff’s cross-appeal in part and returned the issue of whether the plaintiff’s Competition Act and Unjust Enrichment claims should be certified to the motion judge for reconsideration. The court in the Watch matter issued its class certification ruling in November 2022. The court declined to certify and dismissed all claims other than those pled under provincial consumer protection statutes relating to drip pricing and certified a class of consumers who purchased tickets between September 2015 and June 2018 from Ticketmaster.ca on the primary market. In December 2022, the parties filed cross-notices of appeal of the court’s ruling. A hearing on the parties’ motions for leave to appeal took place in March 2023 and the parties await the court’s ruling. The class certification hearing in the Thompson-Marcial matter has been scheduled for December 2023. The McPhee matter is stayed pending the outcome of the Watch matter. Based on information presently known to management, we do not believe that a loss is probable of occurring at this time, and we believe that the potential liability, if any, will not have a material adverse effect on our financial position, cash flows or results of operations. Further, we do not currently believe that the claims asserted in these lawsuits have merit, and considerable uncertainty exists regarding any monetary damages that will be asserted against us. We continue to vigorously defend these actions. Astroworld Litigation and Related Investigation On November 5, 2021, the Astroworld music festival was held in Houston, Texas. During the course of the festival, ten members of the audience sustained fatal injuries and others suffered non-fatal injuries. Following these events, approximately 450 civil lawsuits have been filed against Live Nation Entertainment, Inc. and related entities, asserting insufficient crowd control and other theories, seeking compensatory and punitive damages. Pursuant to a February 2022 order of the state Multidistrict Litigation Panel, matter 21-1033, the civil cases have been assigned to Judge Kristen Hawkins of the 11th District Court of Harris County, Texas, for oversight of pretrial matters under Texas’s rules governing multidistrict litigation. Discovery is underway. Confidential settlements were reached with the families of three of the deceased plaintiffs in August through December 2022. In June 2023, the Houston Police Department concluded its investigation and a Grand Jury was empaneled to determine whether criminal charges should be brought against any persons or entities involved in the festival. The Grand Jury returned no indictments and the criminal matter is now complete. We are currently unable to reliably predict the developments in, outcome of, and economic costs and other consequences of pending or future litigation related to these matters. We will continue to investigate the factual and legal defenses, and evaluate these matters based on subsequent events, new information and future circumstances. We currently expect that liability insurance can provide sufficient coverage, but at this time there are no assurances of such coverage. Given that these cases are in the early stages and in light of the uncertainties surrounding them, we do not currently possess sufficient information to determine a range of reasonably possible liability. Notwithstanding the foregoing, and without admitting liability or wrongdoing, we may incur material liabilities from the 2021 Astroworld event, which could have a material impact on our business, financial condition, results of operations and/or cash flows. Other Litigation From time to time, we are involved in other legal proceedings arising in the ordinary course of our business, including proceedings and claims based upon purported violations of antitrust laws, intellectual property rights and tortious interference, which could cause us to incur significant expenses. We have also been the subject of personal injury and wrongful death claims relating to accidents at our venues in connection with our operations. As required, we have accrued our estimate of the probable settlement or other losses for the resolution of any outstanding claims. These estimates have been developed in consultation with counsel and are based upon an analysis of potential results, including, in some cases, estimated redemption rates for the settlement offered, assuming a combination of litigation and settlement strategies. It is possible, however, that future results of operations for any particular period could be materially affected by changes in our assumptions or the outcomes of proceedings.

Equity

Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Equity	Accumulated Other Comprehensive Income (Loss) The following table presents changes in the components of AOCI, net of taxes, for the six months ended June 30, 2023: Cash Flow Hedge Foreign Currency Items Total (in thousands) Balance at December 31, 2022 $ 41,283 $ (131,359) $ (90,076) Other comprehensive income before reclassifications 7,709 149,424 157,133 Amount reclassified from AOCI (7,804) — (7,804) Net other comprehensive income (loss) (95) 149,424 149,329 Balance at June 30, 2023 $ 41,188 $ 18,065 $ 59,253 Earnings Per Share Basic net income (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. The calculation of diluted net income (loss) per common share includes the effects of the assumed exercise of any outstanding stock options, the assumed vesting of shares of restricted and deferred stock awards and the assumed conversion of our convertible senior notes, where dilutive. The following table sets forth the computation of weighted average common shares outstanding: Three Months Ended Six Months Ended 2023 2022 2023 2022 Weighted average common shares—basic 228,536,179 224,674,447 228,350,537 223,290,226 Effect of dilutive securities: Stock options and restricted stock 2,119,347 7,096,282 2,140,400 8,077,448 Convertible senior notes 13,004,660 11,864,035 — — Weighted average common shares—diluted 243,660,186 243,634,764 230,490,937 231,367,674 The following table shows securities excluded from the calculation of diluted net income per common share because such securities are anti-dilutive: Three Months Ended Six Months Ended 2023 2022 2023 2022 Options to purchase shares of common stock 3,750 3,750 3,750 3,750 Restricted stock and deferred stock—unvested 2,739,954 259,200 2,736,173 211,922 Conversion shares related to the convertible senior notes — — 13,004,660 11,864,035 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 2,743,704 262,950 15,744,583 12,079,707

SEGMENTS AND REVENUE RECOGNITIO

SEGMENTS AND REVENUE RECOGNITION	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
SEGMENTS AND REVENUE RECOGNITION	For the six months ended June 30, 2023 and 2022, our reportable segments are Concerts, Ticketing and Sponsorship & Advertising. We use AOI to evaluate the performance of our operating segments and define AOI as operating income (loss) before certain stock-based compensation expense, loss (gain) on disposal of operating assets, depreciation and amortization (including goodwill impairment), amortization of non-recoupable ticketing contract advances and acquisition expenses (including transaction costs, changes in the fair value of accrued acquisition-related contingent consideration obligations, and acquisition-related severance and compensation) . AOI assists investors by allowing them to evaluate changes in the operating results of our portfolio of businesses separate from non-operational factors that affect net income (loss), thus providing insights into both operations and the other factors that affect reported results. Revenue and expenses earned and charged between segments are eliminated in consolidation. Our capital expenditures below include accruals for amounts incurred but not yet paid for, but are not reduced by reimbursements received from outside parties such as landlords and noncontrolling interest partners or replacements funded by insurance proceeds. We manage our working capital on a consolidated basis. Accordingly, segment assets are not reported to, or used by, our management to allocate resources to or assess performance of our segments, and therefore, total segment assets and related depreciation and amortization have not been presented. The following table presents the results of operations for our reportable segments for the three and six months ended June 30, 2023 and 2022: Concerts Ticketing Sponsorship Other & Eliminations Corporate Consolidated (in thousands) Three Months Ended June 30, 2023 Revenue $ 4,633,291 $ 709,342 $ 302,859 $ (14,769) $ — $ 5,630,723 % of Consolidated Revenue 82.3% 12.6% 5.4% (0.3)% Intersegment revenue $ 3,300 $ 2,397 $ — $ (5,697) $ — $ — AOI $ 168,058 $ 292,685 $ 203,139 $ (18,142) $ (56,043) $ 589,697 Three Months Ended June 30, 2022 Revenue $ 3,597,761 $ 575,305 $ 263,786 $ (2,678) $ — $ 4,434,174 % of Consolidated Revenue 81.1% 13.0% 5.9% —% Intersegment revenue $ 1,575 $ 1,646 $ — $ (3,221) $ — $ — AOI $ 122,944 $ 230,759 $ 178,304 $ (2,027) $ (50,381) $ 479,599 Six Months Ended June 30, 2023 Revenue $ 6,914,503 $ 1,387,083 $ 472,977 $ (16,450) $ — $ 8,758,113 % of Consolidated Revenue 78.9% 15.8% 5.4% (0.1)% Intersegment revenue $ 4,198 $ 3,180 $ — $ (7,378) $ — $ — AOI $ 168,890 $ 563,736 $ 298,670 $ (26,081) $ (95,808) $ 909,407 Six Months Ended June 30, 2022 Revenue $ 4,805,586 $ 1,055,704 $ 379,475 $ (3,783) $ — $ 6,236,982 % of Consolidated Revenue 77.0% 16.9% 6.1% —% Intersegment revenue $ 2,227 $ 2,912 $ — $ (5,139) $ — $ — AOI $ 73,778 $ 436,979 $ 248,004 $ (6,407) $ (63,716) $ 688,638 The following table sets forth the reconciliation of consolidated AOI to operating income for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in thousands) AOI 589,697 $ 479,599 $ 909,407 $ 688,638 Acquisition expenses 24,829 9,543 38,140 21,620 Amortization of non-recoupable ticketing contract advances 21,234 21,865 41,597 40,392 Depreciation and amortization 136,514 115,927 251,699 216,396 Loss (gain) on disposal of operating assets (7,013) 1,065 (6,509) 2,730 Stock-based compensation expense 27,762 12,500 55,333 61,741 Operating income $ 386,371 $ 318,699 $ 529,147 $ 345,759 Contract Advances At June 30, 2023 and December 31, 2022, we had ticketing contract advances of $97.5 million and $106.5 million, respectively, recorded in prepaid expenses and $128.1 million and $105.0 million, respectively, recorded in long-term advances on the consolidated balance sheets. We amortized $21.2 million and $21.9 million for the three months ended June 30, 2023 and 2022, respectively, and $41.6 million and $40.4 million for the six months ended June 30, 2023 and 2022, respectively, related to non-recoupable ticketing contract advances. Sponsorship Agreements At June 30, 2023, we had contracted sponsorship agreements with terms greater than one year that had approximately $1.6 billion of revenue related to future benefits to be provided by us. We expect to recognize, based on current projections, approximately 21%, 30%, 22% and 27% of this revenue in the remainder of 2023, 2024, 2025 and thereafter, respectively. Deferred Revenue The majority of our deferred revenue is typically classified as current and is shown as a separate line item on the consolidated balance sheets. Deferred revenue that is not expected to be recognized within the next twelve months is classified as long-term and reflected in other long-term liabilities on the consolidated balance sheets. We had current deferred revenue of $3.1 billion and $2.8 billion at December 31, 2022 and 2021, respectively. The table below summarizes the amount of the preceding December 31 current deferred revenue recognized during the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Concerts $ 1,133,662 $ 1,031,758 $ 1,815,042 $ 1,310,304 Ticketing 61,641 56,110 96,241 79,153 Sponsorship & Advertising 57,247 57,059 107,927 91,298 $ 1,252,550 $ 1,144,927 $ 2,019,210 $ 1,480,755

BASIS OF PRESENTATION AND OTH_2

BASIS OF PRESENTATION AND OTHER INFORMATION (Basis of Presentation and Other Information) (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Consolidation, Variable Interest Entity, Policy	Variable Interest Entities In the normal course of business, we enter into joint ventures or make investments in companies that will allow us to expand our core business and enter new markets. In certain instances, such ventures or investments may be considered a VIE because the equity owners or the equity holders, as a group, lack the characteristics of a controlling financial interest. In determining whether we are the primary beneficiary of a VIE, we assess whether we have the power to direct activities that most significantly impact the economic performance of the entity and have the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. The activities we believe most significantly impact the economic performance of our VIEs include the unilateral ability to approve the annual budget, to terminate key management and to approve entering into agreements with artists, among others. We have certain rights and obligations related to our involvement in the VIEs, including the requirement to provide operational cash flow funding. As of June 30, 2023 and December 31, 2022, excluding intercompany balances and allocated goodwill and intangible assets, there were approximately $882 million and $514 million of assets and $625 million and $427 million of liabilities, respectively, related to VIEs included in our balance sheets. None of our VIEs are significant on an individual basis.
Cash and Cash Equivalents	Cash and Cash Equivalents Included in the June 30, 2023 and December 31, 2022 cash and cash equivalents balance is $1.4 billion and $1.5 billion, respectively, of cash received that includes the face value of tickets sold on behalf of our ticketing clients and their share of service charges (“client cash”), which amounts are to be remitted to these clients. We generally do not utilize client cash for our own financing or investing activities as the amounts are payable to our clients on a regular basis. These amounts due to our clients are included in accounts payable, client accounts.
Income Taxes	Income Taxes Each reporting period, we evaluate the realizability of our deferred tax assets in each tax jurisdiction. As of June 30, 2023, we continued to maintain a full valuation allowance against our net deferred tax assets in certain jurisdictions due to cumulative pre-tax losses. As a result of the valuation allowances, no tax benefits have been recognized for losses incurred, if any, in those tax jurisdictions for the first six months of 2023. In August 2022, the Inflation Reduction Act (IRA) was enacted in the United States, which includes health care, clean energy, and income tax provisions. The income tax provisions amend the Internal Revenue Code to include among other things a corporate alternative minimum tax starting in the 2023 tax year. The Company is still assessing the impact due to a lack of United States Treasury regulations on this matter; however, the IRA is not expected to have a material impact on the Company's financial statements due to net operating losses and full valuation allowances for the United States, which is our most significant jurisdiction. We will continue to monitor to ensure our financial results and related tax disclosures are in compliance with the IRA tax legislation.
Recent Accounting Pronouncements	Accounting Pronouncements - Adopted In October 2021, the FASB issued Accounting Standards Update (ASU) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers. This ASU should be applied prospectively to acquisitions occurring on or after the effective date of December 15, 2022, and early adoption is permitted. We adopted this guidance on January 1, 2023. The adoption is not expected to have a material impact on our consolidated financial statements.

LONG-LIVED ASSETS (Long-Lived A

LONG-LIVED ASSETS (Long-Lived Assets) (Tables)	6 Months Ended
	Jun. 30, 2023
LONG-LIVED ASSETS [Abstract]
Property, Plant and Equipment	Property, plant and equipment, net, consisted of the following: June 30, 2023 December 31, 2022 (in thousands) Land, buildings and improvements $ 1,989,861 $ 1,648,488 Computer equipment and capitalized software 897,238 910,793 Furniture and other equipment 576,119 535,719 Construction in progress 229,125 244,618 Property, plant and equipment, gross 3,692,343 3,339,618 Less: accumulated depreciation 1,788,323 1,851,955 Property, plant and equipment, net $ 1,904,020 $ 1,487,663
Gross Carrying Amount and Accumulated Amortization of Definite-Lived Intangible Assets	The following table presents the changes in the gross carrying amount and accumulated amortization of definite-lived intangible assets for the six months ended June 30, 2023: Client / Revenue- Venue management and leaseholds Trademarks Technology and Other (1) Total (in thousands) Balance as of December 31, 2022: Gross carrying amount 563,210 $ 824,785 $ 148,022 $ 188,596 $ 35,736 $ 1,760,349 Accumulated amortization (209,518) (316,581) (58,588) (97,931) (27,109) (709,727) Net 353,692 508,204 89,434 90,665 8,627 1,050,622 Gross carrying amount: Acquisitions and additions—current year 18,429 27,125 47,045 — 20,224 112,823 Acquisitions and additions—prior year 619 24,530 (11) — — 25,138 Foreign exchange 16,306 24,320 2,795 7,434 171 51,026 Other (2) (12,127) (42,442) — (13,583) (16,601) (84,753) Net change 23,227 33,533 49,829 (6,149) 3,794 104,234 Accumulated amortization: Amortization (38,482) (50,041) (8,662) (9,240) (6,301) (112,726) Foreign exchange (3,058) (5,312) (692) (1,108) (413) (10,583) Other (2) 12,077 43,135 45 13,589 17,773 86,619 Net change (29,463) (12,218) (9,309) 3,241 11,059 (36,690) Balance as of June 30, 2023: Gross carrying amount 586,437 858,318 197,851 182,447 39,530 1,864,583 Accumulated amortization (238,981) (328,799) (67,897) (94,690) (16,050) (746,417) Net $ 347,456 $ 529,519 $ 129,954 $ 87,757 $ 23,480 $ 1,118,166 (1) Other primarily includes intangible assets for non-compete agreements. (2) Other primarily includes netdowns of fully amortized or impaired assets.	[1],[2]
Weighted Average Lives of Additions to Definite-Lived Intangible Assets	The 2023 acquisitions and additions to definite-lived intangible assets had weighted-average lives as follows: Weighted- Revenue-generating contracts 5 Client/vendor relationships 5 Venue management and leaseholds 14 Technology (1) 3 All categories 8 _____________________	[3]
Changes in Goodwill by Segment	The following table presents the changes in the carrying amount of goodwill in each of our reportable segments for the six months ended June 30, 2023: Concerts Ticketing Sponsorship Total (in thousands) Balance as of December 31, 2022: Goodwill $ 1,349,426 $ 979,742 $ 635,575 $ 2,964,743 Accumulated impairment losses (435,363) — — (435,363) Net 914,063 979,742 635,575 2,529,380 Acquisitions—current year 29,934 — — 29,934 Acquisitions—prior year 1,399 (106) — 1,293 Dispositions (6,183) — — (6,183) Foreign exchange 7,933 29,147 27,852 64,932 Balance as of June 30, 2023: Goodwill 1,382,509 1,008,783 663,427 3,054,719 Accumulated impairment losses (435,363) — — (435,363) Net $ 947,146 $ 1,008,783 $ 663,427 $ 2,619,356
[1]Other primarily includes intangible assets for non-compete agreements.[2]Other primarily includes netdowns of fully amortized or impaired assets.[3]The weighted average life of technology intangibles does not include purchased software licenses that are typically amortized over 1 to 3 years.

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Significant Components of Operating Lease Expense	The significant components of operating lease expense are as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Operating lease expense $ 76,999 $ 71,750 $ 142,328 $ 135,511 Variable and short-term lease expense 40,963 34,861 72,305 52,893 Sublease income (2,424) (1,304) (4,612) (2,274) Net lease expense $ 115,538 $ 105,307 $ 210,021 $ 186,130
Supplemental Cash Flow Information for Operating Leases	Supplemental cash flow information for our operating leases is as follows: Six Months Ended 2023 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 137,924 $ 121,953 Lease assets obtained in exchange for lease obligations, net of terminations $ 87,505 $ 185,119 As of June 30, 2023, we have additional operating leases that have not yet commenced, with total lease payments of $146.7 million. These operating leases, which are not included on our consolidated balance sheets, have commencement dates ranging from July 2023 to June 2030 due to certain offices and venues under construction with lease terms ranging from 2 to 30 years.

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	Long-term debt, which includes finance leases, consisted of the following: June 30, 2023 December 31, 2022 (in thousands) Senior Secured Credit Facility: Term loan A $ 372,500 $ 382,500 Term loan B 841,274 845,644 6.5% Senior Secured Notes due 2027 1,200,000 1,200,000 3.75% Senior Secured Notes due 2028 500,000 500,000 4.875% Senior Notes due 2024 575,000 575,000 5.625% Senior Notes due 2026 300,000 300,000 4.75% Senior Notes due 2027 950,000 950,000 2.5% Convertible Senior Notes due 2023 — 550,000 2.0% Convertible Senior Notes due 2025 400,000 400,000 3.125% Convertible Senior Notes due 2029 1,000,000 — Other long-term debt 526,692 252,199 Total principal amount 6,665,466 5,955,343 Less: unamortized discounts and debt issuance costs (59,280) (51,844) Total long-term debt, net of unamortized discounts and debt issuance costs 6,606,186 5,903,499 Less: current portion 51,489 620,032 Total long-term debt, net $ 6,554,697 $ 5,283,467
Schedule of Maturities of Long-term Debt [Table Text Block]	Future maturities of long-term debt at June 30, 2023 are as follows: (in thousands) Remainder of 2023 $ 33,021 2024 1,478,730 2025 50,443 2026 1,394,009 2027 2,153,142 Thereafter 1,556,121 Total $ 6,665,466

FAIR VALUE MEASUREMENTS Fair Va

FAIR VALUE MEASUREMENTS Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities Measured on a Recurring Basis	The following table shows the fair value of our significant financial assets that are required to be measured at fair value on a recurring basis, which are classified on the consolidated balance sheets as cash and cash equivalents. Estimated Fair Value June 30, 2023 December 31, 2022 Level 1 Level 2 Total Level 1 Level 2 Total (in thousands) Assets: Cash equivalents $ 868,704 $ — $ 868,704 $ 503,964 $ — $ 503,964 Interest rate swaps $ — $ 55,616 $ 55,616 $ — $ 41,515 $ 41,515
Estimated Fair Values of Debt	The following table presents the estimated fair values of our senior secured notes, senior notes and convertible senior notes: Estimated Fair Value at June 30, 2023 December 31, 2022 Level 2 (in thousands) 6.5% Senior Secured Notes due 2027 $ 1,207,980 $ 1,175,460 3.75% Senior Secured Notes due 2028 $ 447,155 $ 429,035 4.875% Senior Notes due 2024 $ 568,198 $ 560,027 5.625% Senior Notes due 2026 $ 293,646 $ 285,315 4.75% Senior Notes due 2027 $ 887,082 $ 847,562 2.5% Convertible Senior Notes due 2023 $ — $ 588,473 2.0% Convertible Senior Notes due 2025 $ 425,792 $ 397,536 3.125% Convertible Senior Notes due 2029 $ 1,106,960 $ —

EQUITY Equity (Tables)

EQUITY Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents changes in the components of AOCI, net of taxes, for the six months ended June 30, 2023: Cash Flow Hedge Foreign Currency Items Total (in thousands) Balance at December 31, 2022 $ 41,283 $ (131,359) $ (90,076) Other comprehensive income before reclassifications 7,709 149,424 157,133 Amount reclassified from AOCI (7,804) — (7,804) Net other comprehensive income (loss) (95) 149,424 149,329 Balance at June 30, 2023 $ 41,188 $ 18,065 $ 59,253
Schedule of Weighted Average Number of Shares	The following table sets forth the computation of weighted average common shares outstanding: Three Months Ended Six Months Ended 2023 2022 2023 2022 Weighted average common shares—basic 228,536,179 224,674,447 228,350,537 223,290,226 Effect of dilutive securities: Stock options and restricted stock 2,119,347 7,096,282 2,140,400 8,077,448 Convertible senior notes 13,004,660 11,864,035 — — Weighted average common shares—diluted 243,660,186 243,634,764 230,490,937 231,367,674
Potentially Dilutive Securities Excluded From Diluted Net Income (Loss) Per Common Share	The following table shows securities excluded from the calculation of diluted net income per common share because such securities are anti-dilutive: Three Months Ended Six Months Ended 2023 2022 2023 2022 Options to purchase shares of common stock 3,750 3,750 3,750 3,750 Restricted stock and deferred stock—unvested 2,739,954 259,200 2,736,173 211,922 Conversion shares related to the convertible senior notes — — 13,004,660 11,864,035 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 2,743,704 262,950 15,744,583 12,079,707

SEGMENTS AND REVENUE RECOGNIT_2

SEGMENTS AND REVENUE RECOGNITION (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents the results of operations for our reportable segments for the three and six months ended June 30, 2023 and 2022: Concerts Ticketing Sponsorship Other & Eliminations Corporate Consolidated (in thousands) Three Months Ended June 30, 2023 Revenue $ 4,633,291 $ 709,342 $ 302,859 $ (14,769) $ — $ 5,630,723 % of Consolidated Revenue 82.3% 12.6% 5.4% (0.3)% Intersegment revenue $ 3,300 $ 2,397 $ — $ (5,697) $ — $ — AOI $ 168,058 $ 292,685 $ 203,139 $ (18,142) $ (56,043) $ 589,697 Three Months Ended June 30, 2022 Revenue $ 3,597,761 $ 575,305 $ 263,786 $ (2,678) $ — $ 4,434,174 % of Consolidated Revenue 81.1% 13.0% 5.9% —% Intersegment revenue $ 1,575 $ 1,646 $ — $ (3,221) $ — $ — AOI $ 122,944 $ 230,759 $ 178,304 $ (2,027) $ (50,381) $ 479,599 Six Months Ended June 30, 2023 Revenue $ 6,914,503 $ 1,387,083 $ 472,977 $ (16,450) $ — $ 8,758,113 % of Consolidated Revenue 78.9% 15.8% 5.4% (0.1)% Intersegment revenue $ 4,198 $ 3,180 $ — $ (7,378) $ — $ — AOI $ 168,890 $ 563,736 $ 298,670 $ (26,081) $ (95,808) $ 909,407 Six Months Ended June 30, 2022 Revenue $ 4,805,586 $ 1,055,704 $ 379,475 $ (3,783) $ — $ 6,236,982 % of Consolidated Revenue 77.0% 16.9% 6.1% —% Intersegment revenue $ 2,227 $ 2,912 $ — $ (5,139) $ — $ — AOI $ 73,778 $ 436,979 $ 248,004 $ (6,407) $ (63,716) $ 688,638
Reconciliation of AOI to Operating Income (Loss)	The following table sets forth the reconciliation of consolidated AOI to operating income for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in thousands) AOI 589,697 $ 479,599 $ 909,407 $ 688,638 Acquisition expenses 24,829 9,543 38,140 21,620 Amortization of non-recoupable ticketing contract advances 21,234 21,865 41,597 40,392 Depreciation and amortization 136,514 115,927 251,699 216,396 Loss (gain) on disposal of operating assets (7,013) 1,065 (6,509) 2,730 Stock-based compensation expense 27,762 12,500 55,333 61,741 Operating income $ 386,371 $ 318,699 $ 529,147 $ 345,759
Contract with Customer, Asset and Liability	Deferred Revenue The majority of our deferred revenue is typically classified as current and is shown as a separate line item on the consolidated balance sheets. Deferred revenue that is not expected to be recognized within the next twelve months is classified as long-term and reflected in other long-term liabilities on the consolidated balance sheets. We had current deferred revenue of $3.1 billion and $2.8 billion at December 31, 2022 and 2021, respectively. The table below summarizes the amount of the preceding December 31 current deferred revenue recognized during the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Concerts $ 1,133,662 $ 1,031,758 $ 1,815,042 $ 1,310,304 Ticketing 61,641 56,110 96,241 79,153 Sponsorship & Advertising 57,247 57,059 107,927 91,298 $ 1,252,550 $ 1,144,927 $ 2,019,210 $ 1,480,755

BASIS OF PRESENTATION AND OTH_3

BASIS OF PRESENTATION AND OTHER INFORMATION (Basis of Presentation and Other Information) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash received that includes the face value of tickets sold on behalf of ticketing clients and their share of service charges.	$ 1,400,000,000	$ 1,500,000,000
Tax benefit recognized for losses incurred	0
Variable Interest Entity [Line Items]
Total assets	19,925,090,000	16,460,841,000
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Total assets	882,000,000	514,000,000
Liabilities	$ 625,000,000	$ 427,000,000

LONG-LIVED ASSETS (Property, Pl

LONG-LIVED ASSETS (Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
LONG-LIVED ASSETS [Abstract]
Land, buildings and improvements	$ 1,989,861	$ 1,648,488
Computer equipment and capitalized software	897,238	910,793
Furniture and other equipment	576,119	535,719
Construction in progress	229,125	244,618
Property, plant and equipment, gross	3,692,343	3,339,618
Less: accumulated depreciation	1,788,323	1,851,955
Property, plant and equipment, net	$ 1,904,020	$ 1,487,663

LONG-LIVED ASSETS (Definite-liv

LONG-LIVED ASSETS (Definite-lived Intangibles) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 1,760,349
Accumulated amortization				(709,727)
Net				1,050,622
Acquisitions and additions—current year				112,823
Acquisitions and additions—prior year				25,138
Foreign exchange				51,026
Other (2)	[1]			(84,753)
Net change				104,234
Amortization		$ (55,200)	$ (52,600)	(112,726)	$ (102,300)
Foreign exchange				(10,583)
Other (2)	[1]			86,619
Net change				(36,690)
Gross carrying amount		1,864,583		1,864,583
Accumulated amortization		(746,417)		(746,417)
Net		1,118,166		$ 1,118,166
Weighted-average lives of definite-lived intangible assets				8 years
Client/vendor relationships [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 563,210
Accumulated amortization				(209,518)
Net				353,692
Acquisitions and additions—current year				18,429
Acquisitions and additions—prior year				619
Foreign exchange				16,306
Other (2)	[1]			(12,127)
Net change				23,227
Amortization				(38,482)
Foreign exchange				(3,058)
Other (2)	[1]			12,077
Net change				(29,463)
Gross carrying amount		586,437		586,437
Accumulated amortization		(238,981)		(238,981)
Net		347,456		$ 347,456
Weighted-average lives of definite-lived intangible assets				5 years
Revenue-generating contracts [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 824,785
Accumulated amortization				(316,581)
Net				508,204
Acquisitions and additions—current year				27,125
Acquisitions and additions—prior year				24,530
Foreign exchange				24,320
Other (2)	[1]			(42,442)
Net change				33,533
Amortization				(50,041)
Foreign exchange				(5,312)
Other (2)	[1]			43,135
Net change				(12,218)
Gross carrying amount		858,318		858,318
Accumulated amortization		(328,799)		(328,799)
Net		529,519		$ 529,519
Weighted-average lives of definite-lived intangible assets				5 years
Venue Management & Leaseholds
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 148,022
Accumulated amortization				(58,588)
Net				89,434
Acquisitions and additions—current year				47,045
Acquisitions and additions—prior year				(11)
Foreign exchange				2,795
Other (2)	[1]			0
Net change				49,829
Amortization				(8,662)
Foreign exchange				(692)
Other (2)	[1]			45
Net change				(9,309)
Gross carrying amount		197,851		197,851
Accumulated amortization		(67,897)		(67,897)
Net		129,954		$ 129,954
Weighted-average lives of definite-lived intangible assets				14 years
Trademarks and naming rights [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 188,596
Accumulated amortization				(97,931)
Net				90,665
Acquisitions and additions—current year				0
Acquisitions and additions—prior year				0
Foreign exchange				7,434
Other (2)	[1]			(13,583)
Net change				(6,149)
Amortization				(9,240)
Foreign exchange				(1,108)
Other (2)	[1]			13,589
Net change				3,241
Gross carrying amount		182,447		182,447
Accumulated amortization		(94,690)		(94,690)
Net		87,757		$ 87,757
Technology [Member]
Finite-lived Intangible Assets [Roll Forward]
Weighted-average lives of definite-lived intangible assets				3 years
Technology and Other intangible assets [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount	[2]			$ 35,736
Accumulated amortization	[2]			(27,109)
Net	[2]			8,627
Acquisitions and additions—current year	[2]			20,224
Acquisitions and additions—prior year	[2]			0
Foreign exchange	[2]			171
Other (2)	[1],[2]			(16,601)
Net change	[2]			3,794
Amortization	[2]			(6,301)
Foreign exchange	[2]			(413)
Other (2)	[1],[2]			17,773
Net change	[2]			11,059
Gross carrying amount	[2]	39,530		39,530
Accumulated amortization	[2]	(16,050)		(16,050)
Net	[2]	$ 23,480		$ 23,480
[1]Other primarily includes netdowns of fully amortized or impaired assets.[2]Other primarily includes intangible assets for non-compete agreements.

LONG-LIVED ASSETS (Definite-l_2

LONG-LIVED ASSETS (Definite-lived Intangibles Amortization) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Amortization of definite-lived intangible assets	$ 55,200	$ 52,600	$ 112,726	$ 102,300

LONG-LIVED ASSETS (Goodwill) (D

LONG-LIVED ASSETS (Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	$ 2,964,743
Accumulated impairment losses	(435,363)
Net goodwill, beginning of period	2,529,380
Acquisition—current year	29,934
Acquisitions—prior year	1,293
Dispositions	(6,183)
Foreign exchange	64,932
Gross goodwill, end of period	3,054,719
Accumulated impairment losses	(435,363)
Net goodwill, end of period	2,619,356
Concerts [Member]
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	1,349,426
Accumulated impairment losses	(435,363)
Net goodwill, beginning of period	914,063
Acquisition—current year	29,934
Acquisitions—prior year	1,399
Dispositions	(6,183)
Foreign exchange	7,933
Gross goodwill, end of period	1,382,509
Accumulated impairment losses	(435,363)
Net goodwill, end of period	947,146
Ticketing [Member]
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	979,742
Accumulated impairment losses	0
Net goodwill, beginning of period	979,742
Acquisition—current year	0
Acquisitions—prior year	(106)
Dispositions	0
Foreign exchange	29,147
Gross goodwill, end of period	1,008,783
Accumulated impairment losses	0
Net goodwill, end of period	1,008,783
Sponsorship and Advertising [Member]
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	635,575
Accumulated impairment losses	0
Net goodwill, beginning of period	635,575
Acquisition—current year	0
Acquisitions—prior year	0
Dispositions	0
Foreign exchange	27,852
Gross goodwill, end of period	663,427
Accumulated impairment losses	0
Net goodwill, end of period	$ 663,427

LONG-LIVED ASSETS (Investments

LONG-LIVED ASSETS (Investments in Nonconsolidated Affiliates) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Investments [Abstract]
Investments in nonconsolidated affiliates	$ 410.5	$ 408.8

LEASES (Significant Components

LEASES (Significant Components Of Operating Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating lease expense	$ 76,999	$ 71,750	$ 142,328	$ 135,511
Variable and short-term lease expense	40,963	34,861	72,305	52,893
Sublease income	(2,424)	(1,304)	(4,612)	(2,274)
Net lease expense	$ 115,538	$ 105,307	$ 210,021	$ 186,130

LEASES (Supplemental Cash Flow

LEASES (Supplemental Cash Flow Information For Operating Leases) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 137,924	$ 121,953
Lease assets obtained in exchange for lease obligations, net of terminations	$ 87,505	$ 185,119

LEASES (Weighted Average Remain

LEASES (Weighted Average Remaining Lease Term and Discount Rate for Operating Leases) (Details) $ in Millions	Jun. 30, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Total lease payments due under operating leases that have not yet commenced	$ 146.7
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lease term for operating leases that have not yet commenced	2 years
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lease term for operating leases that have not yet commenced	30 years

LONG-TERM DEBT (Schedule of Lon

LONG-TERM DEBT (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total principal amount	$ 6,665,466	$ 5,955,343
Less: unamortized discounts and debt issuance costs	(59,280)	(51,844)
Total long-term debt, net of unamortized discounts and debt issuance costs	6,606,186	5,903,499
Current portion of long-term debt, net	51,489	620,032
Long-term debt, net	6,554,697	5,283,467
Senior Secured Credit Facility Term loan A [Member]
Debt Instrument [Line Items]
Total principal amount	372,500	382,500
Senior Secured Credit Facility Term loan B [Member]
Debt Instrument [Line Items]
Total principal amount	841,274	845,644
6.5% Senior Secured Notes Due 2027 [Member]
Debt Instrument [Line Items]
Total principal amount	1,200,000	1,200,000
3.75% Senior Secured Notes Due 2028 [Member]
Debt Instrument [Line Items]
Total principal amount	500,000	500,000
4.875% Senior Notes Due 2024 [Member]
Debt Instrument [Line Items]
Total principal amount	575,000	575,000
5.625% Senior Notes Due 2026 [Member]
Debt Instrument [Line Items]
Total principal amount	300,000	300,000
4.75% Senior Notes due 2027 [Member]
Debt Instrument [Line Items]
Total principal amount	950,000	950,000
2.5% Convertible Senior Notes Due 2023
Debt Instrument [Line Items]
Total principal amount	0	550,000
2.0% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Total principal amount	400,000	400,000
3.125% Convertible Senior Notes Due 2029
Debt Instrument [Line Items]
Total principal amount	1,000,000	0
Other Long Term Debt [Member]
Debt Instrument [Line Items]
Total principal amount	$ 526,692	$ 252,199

LONG-TERM DEBT (Future of Matur

LONG-TERM DEBT (Future of Maturities of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Maturities of Long-term Debt [Abstract]
Remainder of 2023	$ 33,021
2024	1,478,730
2025	50,443
2026	1,394,009
2027	2,153,142
Thereafter	1,556,121
Total	$ 6,665,466	$ 5,955,343

LONG-TERM DEBT (3.125% Converti

LONG-TERM DEBT (3.125% Convertible Senior Notes due 2029) (Details)			3 Months Ended		6 Months Ended
	Jan. 12, 2023 USD ($)	Jan. 09, 2023	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($)	Mar. 15, 2023 USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 0	$ 0	$ (18,366,000)	$ 0
Repurchase of 2.5% convertible senior notes due 2023					$ (27,325,000)
3.125% Convertible Senior Notes Due 2029
Debt Disclosure [Abstract]
Face amount	$ 1,000,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.125%
Proceeds from Issuance of Debt	$ 485,800,000
Debt Instrument [Line Items]
Face amount	$ 1,000,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.125%
Debt Instrument Convertible Conversion Premium	50
Last reported sale price used to calculate conversion premium	72.26
Maximum number of shares issuable upon conversion	13.8 million
Debt Issuance Costs, Net	$ 14,300,000
Debt Instrument, Convertible, Remaining Discount Amortization Period			6 years		6 years
Effective interest rate			3.40%		3.40%
Proceeds from Issuance of Debt	$ 485,800,000
Conversion ratio	0.0092259
3.125% Convertible Senior Notes Due 2029 | Debt Instrument Redemption Redeem for Cash
Debt Instrument [Line Items]
Redemption price, percentage	100%
3.125% Convertible Senior Notes Due 2029 | Redemption, Defined Changes of Control [Member]
Debt Instrument [Line Items]
Redemption price, percentage	100%
2.5% Convertible Senior Notes Due 2023
Debt Disclosure [Abstract]
Debt Instrument, Interest Rate, Stated Percentage	2.50%						2.50%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.50%						2.50%
Debt Instrument, Repurchased Face Amount	$ 440,000,000						$ 110,000,000
Conversion of convertible debt (in shares) | shares					156,750
Repurchase of 2.5% convertible senior notes due 2023					$ (27,300,000)
Capped Call Transaction
Debt Instrument [Line Items]
Derivative, Cap Price	144.52
Capped Call Premium		100
Payments for Derivative Instrument, Financing Activities	$ 75,500,000

LONG-TERM DEBT (Debt Extinguish

LONG-TERM DEBT (Debt Extinguishment) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jan. 12, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 15, 2023
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 0	$ 0	$ (18,366)	$ 0
Repurchase of 2.5% convertible senior notes due 2023				(27,325)
3.125% Convertible Senior Notes Due 2029
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.125%
Proceeds from Issuance of Debt	$ 485,800
2.5% Convertible Senior Notes Due 2023
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.50%					2.50%
Debt Instrument, Repurchased Face Amount	$ 440,000					$ 110,000
Repurchase of 2.5% convertible senior notes due 2023				$ (27,300)
Conversion of convertible debt (in shares)				156,750

LONG-TERM DEBT (Other Long Term

LONG-TERM DEBT (Other Long Term Debt) (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Other Long Term Debt [Member] | United States Venue Management Acquisition
Debt Instrument [Line Items]
Other Long-Term Debt	$ 270,700

FAIR VALUE MEASUREMENTS (Assets

FAIR VALUE MEASUREMENTS (Assets and Liabilities Measured On A Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash equivalents	$ 868,704	$ 503,964
Recurring [Member]
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Interest Rate Derivative Assets, at Fair Value	55,616	41,515
Level 1 [Member] | Recurring [Member]
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash equivalents	868,704	503,964
Interest Rate Derivative Assets, at Fair Value	0	0
Level 2 [Member] | Recurring [Member]
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash equivalents	0	0
Interest Rate Derivative Assets, at Fair Value	$ 55,616	$ 41,515

FAIR VALUE MEASUREMENTS (Fair V

FAIR VALUE MEASUREMENTS (Fair Value of Debt) (Details) - Level 2 [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
6.5% Senior Secured Notes Due 2027 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	$ 1,207,980	$ 1,175,460
3.75% Senior Secured Notes Due 2028 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	447,155	429,035
4.875% Senior Notes Due 2024 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	568,198	560,027
5.625% Senior Notes Due 2026 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	293,646	285,315
4.75% Senior Notes due 2027 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	887,082	847,562
2.5% Convertible Senior Notes Due 2023
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	0	588,473
2.0% Convertible Senior Notes Due 2025 [Member]
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	425,792	397,536
3.125% Convertible Senior Notes Due 2029
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	$ 1,106,960	$ 0

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Details) - Astroworld Festival	6 Months Ended
	Jun. 30, 2023 numberOfClaims	Nov. 05, 2021
Loss Contingencies [Line Items]
Astroworld Fatal Injuries		10
Loss Contingency, New Claims Filed, Number	450
Loss Contingency, Claims Settled, Number	3

EQUITY (Accumulated Other Compr

EQUITY (Accumulated Other Comprehensive Loss) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2022	$ (90,076)
Other comprehensive income before reclassifications	157,133
Amount reclassified from AOCI	(7,804)
Net other comprehensive income (loss)	149,329
Balance at June 30, 2023	59,253
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2022	41,283
Other comprehensive income before reclassifications	7,709
Amount reclassified from AOCI	(7,804)
Net other comprehensive income (loss)	(95)
Balance at June 30, 2023	41,188
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2022	(131,359)
Other comprehensive income before reclassifications	149,424
Amount reclassified from AOCI	0
Net other comprehensive income (loss)	149,424
Balance at June 30, 2023	$ 18,065

EQUITY (Weighted Average Common

EQUITY (Weighted Average Common Shares Outstanding) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Weighted Average Common Shares Basic and Diluted [Line Items]
Weighted Average Number of Shares Outstanding, Basic	228,536,179	224,674,447	228,350,537	223,290,226
Incremental Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangements	2,119,347	7,096,282	2,140,400	8,077,448
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	13,004,660	11,864,035	0	0
Weighted Average Number of Shares Outstanding, Diluted	243,660,186	243,634,764	230,490,937	231,367,674

EQUITY (Antidilutive Securities

EQUITY (Antidilutive Securities Excluded from Computation of Earnings per Share) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,743,704	262,950	15,744,583	12,079,707
Options to purchase shares of common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,750	3,750	3,750	3,750
Restricted and deferred stock awards—unvested [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,739,954	259,200	2,736,173	211,922
Conversion shares related to the convertible senior notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	13,004,660	11,864,035

SEGMENTS AND REVENUE RECOGNIT_3

SEGMENTS AND REVENUE RECOGNITION Segment Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenue	$ 5,630,723	$ 4,434,174	$ 8,758,113	$ 6,236,982
AOI	589,697	479,599	909,407	688,638
Operating Segments [Member] | Concerts [Member]
Segment Reporting Information [Line Items]
Revenue	$ 4,633,291	$ 3,597,761	$ 6,914,503	$ 4,805,586
Percentage of Concert revenue to consolidated revenue	82.30%	81.10%	78.90%	77%
AOI	$ 168,058	$ 122,944	$ 168,890	$ 73,778
Operating Segments [Member] | Ticketing [Member]
Segment Reporting Information [Line Items]
Revenue	$ 709,342	$ 575,305	$ 1,387,083	$ 1,055,704
Percentage of Ticketing revenue to consolidated revenue	12.60%	13%	15.80%	16.90%
AOI	$ 292,685	$ 230,759	$ 563,736	$ 436,979
Operating Segments [Member] | Sponsorship and Advertising [Member]
Segment Reporting Information [Line Items]
Revenue	$ 302,859	$ 263,786	$ 472,977	$ 379,475
Percentage of Sponsorship & Advertising revenue to consolidated revenue	5.40%	5.90%	5.40%	6.10%
AOI	$ 203,139	$ 178,304	$ 298,670	$ 248,004
Operating Segments [Member] | Corporate Segment
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
AOI	(56,043)	(50,381)	(95,808)	(63,716)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(5,697)	(3,221)	(7,378)	(5,139)
Intersegment Eliminations [Member] | Concerts [Member]
Segment Reporting Information [Line Items]
Revenue	3,300	1,575	4,198	2,227
Intersegment Eliminations [Member] | Ticketing [Member]
Segment Reporting Information [Line Items]
Revenue	2,397	1,646	3,180	2,912
Intersegment Eliminations [Member] | Sponsorship and Advertising [Member]
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Intersegment Eliminations [Member] | Other and Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	$ (14,769)	$ (2,678)	$ (16,450)	$ (3,783)
Percentage of Other and Eliminations to Total Revenue	(0.3)	—	(0.1)	—
AOI	$ (18,142)	$ (2,027)	$ (26,081)	$ (6,407)
Intersegment Eliminations [Member] | Corporate Segment
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0	$ 0	$ 0

SEGMENTS AND REVENUE RECOGNIT_4

SEGMENTS AND REVENUE RECOGNITION Reconciliation of AOI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reconciliation of AOI [Line Items]
AOI	$ 589,697	$ 479,599	$ 909,407	$ 688,638
Acquisition expenses	24,829	9,543	38,140	21,620
Amortization of non-recoupable ticketing contract advances			41,597	40,392
Depreciation and amortization	136,514	115,927	251,699	216,396
Gain (Loss) on Disposition of Other Assets	7,013	(1,065)	6,509	(2,730)
Stock-based compensation expense	27,762	12,500	55,333	61,741
Operating income	386,371	318,699	529,147	345,759
Ticketing [Member]
Reconciliation of AOI [Line Items]
Amortization of non-recoupable ticketing contract advances	21,234	21,865	41,600	40,400
Operating Segments [Member] | Concerts [Member]
Reconciliation of AOI [Line Items]
AOI	168,058	122,944	168,890	73,778
Operating Segments [Member] | Ticketing [Member]
Reconciliation of AOI [Line Items]
AOI	292,685	230,759	563,736	436,979
Operating Segments [Member] | Sponsorship and Advertising [Member]
Reconciliation of AOI [Line Items]
AOI	203,139	178,304	298,670	248,004
Operating Segments [Member] | Corporate Segment
Reconciliation of AOI [Line Items]
AOI	$ (56,043)	$ (50,381)	$ (95,808)	$ (63,716)

SEGMENTS AND REVENUE RECOGNIT_5

SEGMENTS AND REVENUE RECOGNITION Ticketing Contract Advances (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Capitalized Contract Cost [Line Items]
Amortization of non-recoupable ticketing contract advances			$ 41,597	$ 40,392
Ticketing [Member]
Capitalized Contract Cost [Line Items]
Amortization of non-recoupable ticketing contract advances	$ 21,234	$ 21,865	41,600	$ 40,400
Prepaid Expenses [Member] | Ticketing [Member]
Capitalized Contract Cost [Line Items]
Ticketing contract advances	97,500		97,500		$ 106,500
Other Noncurrent Assets [Member] | Ticketing [Member]
Capitalized Contract Cost [Line Items]
Ticketing contract advances	$ 128,100		$ 128,100		$ 105,000

SEGMENTS AND REVENUE RECOGNIT_6

SEGMENTS AND REVENUE RECOGNITION Performance Obligation (Details) - Sponsorship and Advertising [Member] $ in Billions	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue related to future benefits to be provided by the Company	$ 1.6
Percentage of revenue on contracts to be recognized during the remainder of current year	21%
Percentage of revenue on contracts to be recognized next year	30%
Percentage of revenue on contracts to be recognized in two years	22%
Percentage of revenue to be recognized on contracts thereafter	27%

SEGMENTS AND REVENUE RECOGNIT_7

SEGMENTS AND REVENUE RECOGNITION Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, current	$ 5,025,871		$ 5,025,871		$ 3,134,800
Deferred Revenue, prior						$ 2,800,000
Recognition of deferred revenue	1,252,550	$ 1,144,927	2,019,210	$ 1,480,755
Concerts [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	1,133,662	1,031,758	1,815,042	1,310,304
Ticketing [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	61,641	56,110	96,241	79,153
Sponsorship and Advertising [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	$ 57,247	$ 57,059	$ 107,927	$ 91,298